Digital Lending Solution: Paperless Banking

Authors

Nidhi Ravi
Dept. of Electronics and Communication, R.V. College of Engineering, Bengaluru, Karnataka, India.

AnushaLS, Assistant Professor
Dept. of Electronics and Communication, R.V. College of Engineering, Bengaluru, Karnataka, India.

Abstract

In the realm of Financial Technologies and lending or credit, digital lending is a new, revolutionary, and rising topic. Digital lending is the use of technology tooriginate and renew loans in order to provide a more efficient service and decisioning system. As a result of the widespread use of process digitalization and automation by lending institutions, the lending industry has begun to digitize. Banking industry is now moving to a completely paperless domain, with this the concern for security and need of encryption rises.